Housing Wire

AUGUST 5, 2020

Last week, we published a story about United Wholesale Mortgage (UWM) offering 15-year fixed mortgage rates as low as 1.875% for purchases and refinances. For example, about two weeks ago, Quicken Loans advertised a “limited-time” rate of 1.99% on 15-year mortgages. Others just wanted more details.

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Mortgage Loan Officers Lending Advertising 525

Housing Wire

APRIL 10, 2024

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

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Business Investors Finance Home Improvement 404

Housing Wire

AUGUST 26, 2022

The mortgage industry is changing rapidly and originators are focused on adapting to a shifting market in order to stay competitive. HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Both HELOCs and non-QM loans are made to order for today’s mortgage market.

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Mortgage Technology Home Improvement Business 356

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

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Mortgage Marketing Retail Lending 522

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. Mortgage executives project that number to remain steady or even tick up in the third quarter.

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Mortgage Loan Officers Finance Investors 397

PennyMac

JANUARY 2, 2024

Equity is the difference between your home's current market value and the amount you owe on your mortgage. A home upgrade that doesn’t fully pay for itself dollar-for-dollar in terms of increased home value may still boost your home’s overall market value, thereby increasing your equity. That’s not always the case.

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Home Improvement Renovations Investing Inspection 36

Housing Wire

JANUARY 19, 2024

The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans. Tennessee-based community bank Patriot Bank agreed to pay $1.9

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Loan Officers Lending Advertising Home Improvement 408

Housing Wire

MARCH 23, 2022

Seeking business growth in the current rising rate environment, originators are contemplating the benefits of adding reverse mortgages to their product mix. With mortgage interest rates steadily on the rise and refinance volume dropping, originators should immediately consider tapping into products that are less interest rate sensitive.

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Mortgage Clients Business Training 377

Housing Wire

JUNE 8, 2021

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. billion as of March 31, 2021 and is one of America’s largest specialized home improvement lenders. billion in home improvement projects.

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Renovations Home Improvement Marketing Finance 370

Housing Wire

MAY 10, 2021

announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Lending and services platform Finance of America Inc. Homeowners can also use it to access financing solutions through their contractor.

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Renovations Finance Home Improvement Lending 381

Housing Wire

SEPTEMBER 29, 2022

Amid the most challenging mortgage market in decades, multichannel lender Finance of America (FoA) plans to sell its retail mortgage division and shut down its forward wholesale channel, multiple sources told HousingWire. . FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

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Retail Finance Home Improvement Business 432

Housing Wire

SEPTEMBER 23, 2020

There’s a mainstay in mortgage finance poised to help in working from home. The Federal Housing Administration’s 203(k) rehabilitation mortgage insurance program is designed for borrowers to renovate when they purchase or refinance. It allows for actual home improvements to complement contemporary lifestyles.

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Renovations Insurance Home Improvement Design 543

Housing Wire

FEBRUARY 14, 2024

Analysts in the mortgage industry are projecting that 2024 will be a better year than 2023 across the board. In a HousingWire report , analyst firm Jeffries said that they believe the worst of the current mortgage cycle is behind us, and Moody’s forecasts that the Federal Reserve will decrease rates three or four times this year.

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Housing Wire

OCTOBER 7, 2022

Guaranteed Rate this week walked away from negotiations to acquire Finance of America ’s forward mortgage retail channel, which may result in FoA closing the division, sources with direct knowledge of the negotiations told HousingWire. FoA originated $6 billion through the retail mortgage channel from January to June, down 50.7%

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Retail Finance Home Improvement Mortgage 378

Housing Wire

JANUARY 9, 2024

Such funding will also directly support the work of housing counseling offering required Home Equity Conversion Mortgage (HECM) sessions. ” “While the call for reverse mortgage has dipped in 2023, as the environment becomes more favorable in 2024, these grant funds will help enable us to service that growth as it comes.”

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Design Mortgage Home Improvement Training 390

Housing Wire

JUNE 10, 2021

According to Zillow and Thumbtack’s Hidden Costs of Selling Analysis , the average homeowner spends over $15,000 in “hidden costs” to sell their home. . From staging fees, home improvements, repairs and seller concessions, there are several hidden costs involved in the selling process. Staging Costs. Bottom Line.

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Sellers Real Estate Agent Real Estate Decorating 546

Housing Wire

DECEMBER 1, 2022

Most HELOC programs offered by big banks take on average 66 days to get approval, according to the Mortgage Bankers Association. That is money they’ve earned and saved, and we want to make it as easy as possible to access that for home improvements, debt consolidation, or whatever else they may want to use it for.”.

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Renovations Home Improvement Government Tools 426

Housing Wire

NOVEMBER 23, 2021

As home equity reached another record high this year, mortgage companies have a big opportunity to help homeowners understand how to better manage or leverage their home’s equity to improve their housing and overall financial outlook. Use home equity to raise home value. Invest in the future.

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Investing Home Improvement Home Value Mortgage 421

Housing Wire

JUNE 13, 2022

The board of directors appointed Graham Fleming, FoA’s president since October 2020, as interim CEO, responsible for the company’s forward, reverse, commercial and home improvement lending segments, as well as lender services. Like many competitors, FoA’s traditional mortgage business has been affected by higher mortgage rates.

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Finance Home Improvement Mortgage Lending 359

Housing Wire

AUGUST 5, 2022

Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens. Not only would the homeowner incur closing costs, but in most cases, the borrower would also have to stomach a higher rate on the existing mortgage balance.

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Lending Home Improvement Home Value Mortgage 392

Housing Wire

APRIL 27, 2021

It’s the latest in a string of big M&A deals in the mortgage lending space – and the growing wholesale channel in particular – over the past six months. Finance of America said it puts the company on the path of becoming a “top-five performer” in the segment, which has grown to roughly 20% of the overall mortgage market.

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Finance Lending Retail Renovations 370

Housing Wire

AUGUST 2, 2022

The layoffs come amid a mortgage market downturn and a larger company restructuring, multiple current and former staffers told HousingWire. ” Like many competitors, FoA’s traditional mortgage business has been affected by higher mortgage rates. The company loan origination volume fell to $5.1

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Marketing Human Resources Finance Business 351

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ).

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Housing Market Marketing Contracts Lending 367

Housing Wire

FEBRUARY 14, 2023

Managing a profitable mortgage business can be challenging in the best of markets. Mortgage servicing rights (MSRs) are valuable assets for mortgage lenders when origination business is slow. Servicing retention generates servicing fee income and helps servicers improve the customer experience.

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Modernization Insurance Investors Tools 349

Housing Wire

SEPTEMBER 16, 2021

The share of firms making a percentage of net revenue from ancillary services, such as relocation services, mortgage lending, title and escrow services, and home improvement services, increased from 39% in 2018 to 42% in 2021. However, with 49% of the firms surveyed being one-office shops, that could be the reason.

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Real Estate Business Brokerage Open Houses 353

Housing Wire

APRIL 2, 2021

It’s the second large-scale mortgage lender to go public via a SPAC in 2021, after broker-based United Wholesale Mortgage began trading in late January. Like virtually all mortgage lenders, FOA posted record profits and originations in 2020. The lender increased originations by 70% to $32.63 billion in 2020 from $19.16

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Finance Renovations Investors Retail 285

Housing Wire

AUGUST 4, 2023

Indicators of manufacturing and service sector health remain lackluster, measures of inflation have moved lower, while GDP growth in the second quarter was stronger than expected and consumer spending remains resilient,” said Mortgage Bankers Association VP and Deputy Chief Economist Joel Kan.

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Marketing Construction Renovations Home Improvement 315

PennyMac

JULY 26, 2023

Second mortgages can be a great way to use the equity in your home to free up cash for important needs. Just like any other loan, there are some essential components you should know about second mortgages before you begin the application process. What Is a Second Mortgage? What Can I Use a Second Mortgage for?

Mortgage 36

Mortgage Home Improvement Renovations Lending 36

Housing Wire

JULY 6, 2023

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. The perplexing part: Why are home prices not declining in this environment? That compares to a record $4.4

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Inventory Renovations Real Estate Government 465

Appraisal Hub

NOVEMBER 30, 2023

Whether you’re considering selling your home, refinancing your mortgage, or simply looking to understand your property’s market value, a professional residential appraisal is the key. Essential for Mortgage and Refinancing: For homeowners looking to refinance their mortgage, a professional appraisal is often a requirement.

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Appraisal Property Taxes Valuation Market Value 78

Housing Wire

OCTOBER 29, 2021

Until recently, mortgage servicing was more about cash-flow math than consumer experience. Customer Retention: When we think of new loans, this comes in a few forms in the current market: the last of the rate/term refis before rates rise, cash-out refis for both home improvement and debt consolidation, and, of course, new purchase loans.

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Clients Modernization Home Improvement Technology 383

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.

Mortgage 450

Mortgage Loan Officers Inventory Business 450

Housing Wire

AUGUST 14, 2023

Though this would typically signal a time for panic across the residential real estate profession, those who can focus on servicing their clients with a mind for the future will be well positioned for whenever the economics for home buying become more favorable. High mortgage rates hurt home buying and selling prospects.

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Real Estate Agent Real Estate Clients Agents 325

Housing Wire

MARCH 22, 2023

An affordable home insurance policy not only means lower monthly payments, but also improved debt-to-income ratio and more money to put towards home improvements, property taxes or closing costs. We’ve seen savings of up to 30% in difficult markets like Texas and Florida.

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Insurance Property Taxes Buyers Clients 391

Housing Wire

APRIL 1, 2022

When you look at how fixed-income developed, mortgage-backed securities were brand new at the time and I was right at the forefront of that work. CMOs or collateralized mortgage obligations were developed. Then, that led to REMICs — real estate mortgage investment conduits — and the market really took off from there.

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Finance Development Business Tools 364

Appraisal Buzz

APRIL 29, 2024

Of course, the primary source of business for most residential appraisers has traditionally been the lending industry: refinances, HELOCs, and mortgages for the purchase of a home. To that end, the appraisal business is ripe with opportunities to diversify and have revenue streams from multiple sources.

Clients 195

Clients Business Appraisal Lending 195

Housing Wire

AUGUST 31, 2020

DP: The events following the outbreak of COVID-19 rapidly led to a liquidity crisis across the mortgage industry, something seasoned veterans never thought they would witness again after the collapse of the housing market in 2008. HW: What does the demand for non-QM lending look like now following the sector’s pause earlier this year?

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Lending Retail Housing Market Home Improvement 379